Cost of living in Costa Rica increases at fastest rate in eight years

March 5th, 2013 (InsideCostaRica.com) In just two months, the cost of living in Costa Rica has increased almost half as much as the Central Bank expected for the entire year.

Between just January and February, the cost of living rose 2.34%, while the Central Bank’s target was 5% for the entire year.

This is the fastest pace in the increase of cost of living seen in the country in 8 years. Milton Castillo from the National Institue of Statistics and Census (INEC) said the increases in fuel, food, and education are playing the most significant roles.

In February alone, 6 out of 10 items in the “food basket,” which the government uses as representative grocery items for a family, rose in price.